The Week in Deals
3 deals| Date | Deal Type | Tech | Seller / Sponsor | Buyer / Financier | Size | Location | Status | Notes | |
|---|---|---|---|---|---|---|---|---|---|
| Dec 19 | Project & Portfolio M&A | Solar+BESS | Ørsted (operator) | — | $572M | Multi-state | Closed | Ørsted divests 3 US solar + battery projects to Energy Capital Partners for $572M. Continues Ørsted's 2024-2025 capital recycling program after broader strategic reset. | |
| Dec 16 | Project Finance | Wind | Apex Clean Energy | CIBC, Crédit Agricole CIB (CLAs); J.P. Morgan, undisclosed (tax equity); BofA, KeyBanc, NatWest, PNC, AIB, Bayerische Landesbank, National Bank of Canada (joint lead arrangers) | 300 MW | IL | Closed | Apex's 5th commercialized wind farm in Illinois. Tax equity from J.P. Morgan as lead investor + a second well-known US-based investor. Construction + term debt with CIBC and Crédit Agricole as Co-Left Lead Arrangers and CLAs. Joint lead arrangers: AIB; BofA; Bayerische Landesbank NY; KeyBanc; NBC; NatWest; PNC. COD early 2025. | |
| Dec 16 | Strategic & Growth Capital | Solar+BESS | Riverstone Holdings | APG Asset Management (for Dutch ABP) + Australian Retirement Trust (ART) | 5,600 MW | Multi-state | Announced | APG-ART consortium acquires Riverstone's stake in Pattern Energy alongside CPP Investments and management. Riverstone full exit after founding investor role since 2009. Pattern Energy was previously valued ~$8.7B in 2020 CPPIB take-private. Major US clean energy IPP with SunZia HVDC + 3,515 MW wind project. |
Change of Control
2 movesAmanda Dasch joined as CEO, Region Americas at Ørsted (from COO, Region Americas, Shell)
Dasch was promoted to lead all US operations for the Danish offshore wind giant, later taking on the Chief Development Officer role as well — consolidating both operational and growth leadership.
Dec 16
Shanelle Montana joined as Chief Development Officer at Arevon Energy (from SVP of Portfolio Management, Lightsource bp)
Montana moved from Lightsource bp where she oversaw a 20 GW pipeline to Arevon, then led by Kevin Smith (also ex-Lightsource bp). Key talent flow between major solar platforms.
Dec 18
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